CFTC Chair Says Ethereum Is a Commodity—Despite Gensler’s ‘Bitcoin Only’ Position | Crypto Craft

  • CFTC Chair Says Ethereum Is a Commodity—Despite Gensler’s ‘Bitcoin Only’ Position

    From decrypt.co

    The chairman of the Commodities and Futures Trading Commission (CFTC) has taken a firm stance against the Security and Exchange Commission (SEC)’s subtle power creep over the digital asset market. Rostin Behnam told the Senate Agriculture Committee on Wednesday that Ethereum, the second-largest cryptocurrency next to Bitcoin, is a commodity. “It’s been listed on CFTC exchanges for quite some time, and for that reason,” said Behnam, who argued that it creates a “direct jurisdictional hook” for the agency to police both ETH’s derivatives market and underlying market. His opinion appears to directly ... (full story)

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Goat
Mar 9, 2023 7:02pm
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Wow the crypto media is going hard on Gensler's "everything but bitcoin" quip, despite the glaring fact that it's not what he meant. Crypto media is the same kind of yuck thats found in partisan politics. 🤮
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